# Dollar rises with bets on hawkish Fed; sterling drops | Reuters

> The dollar rose on bets that the Fed will keep tightening, while sterling fell. St. Louis Fed President James Bullard indicated the policy rate may need to reach roughly 5% or higher, and the federal funds rate currently sits at 3.75%-4.00%.

- Date: 2022-11-17 · published 2022-11-17T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/38594-dollar-rises-with-bets-on-hawkish-fed-sterling-drops-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expectations of a higher U.S. policy rate support the dollar, which lowers dollar-priced commodity values and raises import costs for non-U.S. buyers. A firmer dollar also tends to pressure sterling-linked trade flows.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-01-30 | [Sterling drops as dollar lifted by Fed chair speculation \| Reuters](https://feedsoft.ai/events/21298-sterling-drops-as-dollar-lifted-by-fed-chair-speculation-reuters.md) | +0.9% | +0.3% |
| DXY | 2017-11-01 | [Dollar rises on strong U.S. data, Fed signals \| Reuters](https://feedsoft.ai/events/68151-dollar-rises-on-strong-u-s-data-fed-signals-reuters.md) | +0.1% | -1.2% |
| DXY | 2022-12-16 | [U.S. dollar gains as risk tolerance drops with hawkish central banks \| Reuters](https://feedsoft.ai/events/38416-u-s-dollar-gains-as-risk-tolerance-drops-with-hawkish-central-banks-reuters.md) | -0.3% | -2.7% |
| DXY | 2024-08-30 | [Sterling steady but heads for weekly fall on dollar strength \| Reuters](https://feedsoft.ai/events/29065-sterling-steady-but-heads-for-weekly-fall-on-dollar-strength-reuters.md) | +0.2% | -0.9% |
| DXY | 2020-09-22 | [Dollar rises on hawkish comments; stocks end up](https://feedsoft.ai/events/7693-dollar-rises-on-hawkish-comments-stocks-end-up.md) | +1.1% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-steadies-us-spending-points-rate-hikes-2022-11-17/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.